Renault-Nissan to invest Rs. 5,000 crore in plant expansion

According to a Tamil Nadu government official, the Renault-Nissan alliance has announced that it will expand its manufacturing facility in the state. The company is planning to invest a sum of Rs. 5,000 crore for the expansion. Construction has already begun and the timeline given to the company is seven years.

Renault-Nissan has already signed a Memorandum of Understanding (MOU) with the state government for Rs. 4,500 crore and the investment of Rs. 5,000 crore will be in addition to that. The company has plans to roll out various models under the Renault, Nissan and Datsun brands. The expansion will help the manufacturer in increasing its production capacity to meet demand.

Another carmaker investing in Tamil Nadu is Mahindra. The utility vehicle major has acquired 450 acres of land and is setting up a new facility with an investment of Rs. 4,000 crore. Tyre manufacturer MRF, is also investing Rs. 4,500 crore in setting up a new plant over the next seven years.

Source: DNA